VIASPACE Press Release
VIASPACE DELIVERS FUEL CELL CARTRIDGES TO SAMSUNG
Company's Direct Methanol Fuel Cell Subsidiary Completes Second Development Contract
PASADENA, CA-March 2, 2009-VIASPACE Inc. (OTCBB: VSPC), an alternative energy company providing products and technology for renewable and clean energy, announced the completion of its second development contract to deliver a high-reliability standard methanol cartridge to Samsung, the global consumer electronics and appliances company. The contract was not previously disclosed because of confidentiality.
VIASPACE, through its fuel cell subsidiary Direct Methanol Fuel Cell Corporation (DMFCC), during the second half of 2008 completed delivery of a number of fuel cartridges and device valves that were extensively tested in a variety of operating conditions and environments as part of the contract. Samsung demonstrated its fuel cell-containing the DMFCC cartridge-to potential customers. Details of the fuel cell, cartridge and fuel cell application were not available..
Potential applications for disposable fuel cartridges include fuel cells to power portable electronics such as notebook computers, mobile phones and small portable power stations.
The final report was made on February 20, 2009, by DMFCC Engineering Manager Kiehwan (Kevin) Kim at the Samsung Advanced Institute of Technology in Korea. Referring to Kim's report, the Samsung Project leader stated, "The presentation was very well-prepared, and the contents of the report are excellent."
DMFCC developed the cartridge in collaboration with manufacturing partner Sato Group of Japan.
Dr. Carl Kukkonen, chief executive of VIASPACE and DMFCC, commented: "We are proud to be working with Samsung on their direct methanol fuel cells and look forward to further opportunities. I want to thank the Sato Group for their extremely hard work and diligence, as they are experts in engineering and manufacturing complex parts for their customers worldwide. I also want to thank Kevin and Joe McMenamin, also of DMFCC, for their hard work on the Samsung contract."
Contact: Dr. Carl Kukkonen, Chief Executive Officer, 626-768-3360.
About VIASPACE Inc.: VIASPACE is an alternative energy company providing products and technology for renewable and clean energy that reduce or eliminate dependence on fossil and high-risk-pollutant energy sources. The Company provides raw material for cellulosic biofuels and develops and markets fuel cell cartridges, products and technology. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation owns a portfolio of fuel cell patents licensed from Pasadena-based California Institute of Technology (Caltech), which manages NASA's Jet Propulsion Laboratory, where the direct methanol fuel cell was invented. For more information, please see http://www.viaspace.com/ or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
Safe Harbor Statement: Information in this news release and include forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-KSB for the year ended December 31, 2007, as well as general economic and business conditions; the ability to acquire and develop specific products and technologies; changes in consumer and business demand for the Company's products; competition from larger companies; changes in demand for alternative and clean energy; risks associated with international transactions; risks related to technological change; and other factors over which VIASPACE has little or no control.